Everyone saves some part of their earnings and invests it in such a place where apart from keeping their money safe, they also get strong returns. In both these respects, fixed deposit i.e. FD Schemes remains the best option.
When the repo rate was increased several times one after the other by the Reserve Bank of India (RBI) to control inflation in the country, many banks, while giving relief to their customers, opened FDs in their offices. Rates were increased.
HDFC Bank, the country’s largest bank by market value, has increased its FD rates. The bank has increased the interest rates on FDs ranging from Rs 2 to Rs 5 crore. There are many banks which have revised their interest rates in the month of February and they are offering more than 9 percent interest.
HDFC Bank increased interest rate
The country’s largest private sector bank HDFC has increased the interest rate on bulk FD. It is noteworthy that FD more than Rs 2 crore and up to Rs 5 crore is called bulk FD. HDFC Bank is offering bulk FDs ranging from 7 days to 10 years and the changed rates on these have come into effect from 3 February 2024. The bank has increased the interest rates on FDs for a period of one year to 15 months. Now the bank is offering 7.40 percent interest on FD of one year to 15 months, while for this tenure, senior citizens are being offered 7.90 percent interest.
NITI Small Finance Bank changed its rates
FD interest rates have been revised by Unity Small Finance Bank on February 2, 2024. After this, now interest up to 9.50 percent is being offered on fixed deposits of 1001 days in the bank. This interest offer is being made for senior citizens. Talking about FD interest rates for other periods, the bank is offering a whopping 9.25 percent interest on FD for a period of 6 months.
Money will have to be invested for 1001 days
If we look at the interest rates on other FD tenures, apart from offering 9.5 percent interest on 1001 days, the bank is offering 9.25 percent interest rate to senior citizens on fixed deposits of six months to 201 days. Apart from this, 9.25 percent interest is also being given on investment in FD for 501 days. Apart from this, if a senior citizen makes an FD for 701 days, then the bank is giving him interest at the rate of 9.45 percent.
These banks also gave gifts to senior citizens
In February, many other banks have also changed the interest rates to provide additional benefits to senior citizens on making FDs with them. The next name in this is that of Punjab & Sindh Bank, which has revised its FD rates (Punjab & Sindh Bank FD Rates) from 1 February 2024. After this change, the bank is offering interest up to 8.10 percent on FD for 444 days. These special FDs are valid till March 31, 2024. Apart from this, from February 1, Karur Vysya Bank (KVB) is offering maximum interest of up to 8.00 percent on its 444-day FD Scheme to senior citizens.
PNB also revised the interest rates
Punjab National Bank has also revised the interest rates on FD in the month of February (PNB FD Rates). After this, senior citizens are getting maximum interest of 7.75 percent on making 400 days FD in the bank. After the change, the new rates have been implemented from February 1, 2024. Apart from this period, Punjab National Bank has increased the interest available to senior citizens on FD of 300 days by 80 basis points. During this period, the bank is giving 7.55 percent interest to general customers and 7.85 percent interest to senior citizens.
(Note- Before making any investment, definitely take advice from your experts.)
